Understanding Ethereum Classic (ETC) and DAOs

Two Ethereums:

What began as an attempt to rescue investors funds in a high profile project has led to a schism that has effectively divided the community into the two longest block chains.

The division is not only psychological. Thanks to the design of public block systems, it is also technical, with competitive visions that are manifested in two very real blocks or versions of the project’s transaction history.

As of July 28, 2016 there are two groups working on two competing versions of a project called Ethereum, a platform based on a block chain designed to allow the development of decentralized applications.

If Bitcoin imagined how a distributed group of users could create and manage a currency, ethereum tried to allow a distributed group of users to create and manage a decentralized and non-objectionable application store.

However, there are now two slightly different versions of this platform available to users: ethereum, the ‘official’ version of the blockchain maintained by its original developers and ethereum classic, an ‘alternative’ blockchain maintained by a team brand new.

Both offer the same technology platforms, and according to the developers, they agree on a formal roadmap for the steps to follow. But, small…